Accounting and Financial Management degree

A student in the accounting degree program sits in a classroom looking at camera

Built for what happens next

Most business programs teach subjects. Accounting and Financial Management (AFM) teaches how decisions get made.

Today's organizations generate more data than ever. The challenge isn't finding information. It's knowing what matters, what doesn't, and what to do next.

That's why accounting and finance have become more powerful than ever. They sit at the intersection of strategy, technology, risk and decision-making. That's exactly where AFM lives.

From day one, you'll learn how to use data, AI, and financial insight to solve complex problems, see what others miss, and shape decisions that move businesses forward. When the stakes are high, organizations need people they trust.

The ability to earn that trust starts here.

What courses will you take in AFM?

First-year courses

AFM continues to lead in accounting and finance with the new Value Suite, a series of courses that flips traditional business learning on its head. Starting in first year, you’ll see how your decisions ripple across people, communities, and systems.

The Value Suite emphasizes the human side of business, helping you develop adaptability, ethical judgment, and decision-making that guide your technical expertise. That expertise is strengthened through the program's Tech Stack courses in data, analytics, and digital tools which prepare you to deliver lasting results.

Together, the Value Suite and Tech Stack give you the skills employers are demanding, skills that can’t be learned from textbooks or lectures alone. This hands-on approach ensures graduates are ready to meet professional challenges and succeed in a modern business world.

September to December

  • AFM 191 – Introduction to Financial Reporting and Managerial Decision Making 1
  • AFM 111 – Professional Pathways and Problem Solving
  • AFM 112 – Analytic Methods for Business 1
  • Additional courses for a total of five

January to April

  • AFM 182 – Introduction to Financial Reporting and Managerial Decision Making 2
  • AFM 121 – Introduction to Global Financial Markets*
  • AFM 113 – Analytic Methods for Business 2
  • Additional courses for a total of five

After first year

After first year, 70 to 80% of the classes you'll take will be AFM courses. The number of electives you'll have will depend on which of the program's professional designations (i.e., CPA, CFA) or specializations (e.g., Assurance, Tax, Finance) you choose.

Sample upper-year courses

AFM 241 – Impact of Technology on Business
AFM 362 – Corporate Taxation
AFM 373 – Cases and Application in Corporate Finance
AFM 433 – Business Strategy

Customize your degree

Add additional areas of expertise to your degree by selecting one (or two) of the following career specializations.

  1. Assurance and Advisory
  2. Business Leadership
  3. Corporate Finance
  4. Corporate Reporting
  5. Public Equity and Wealth Management
  6. Tax
  7. Venture Capital and Private Equity

AFM students can enhance any of the seven specializations with an additional focus in Emerging Technologies and Data Analytics.

Only want to complete one career specialization? No problem. You can also include one or more of the minors available to all Waterloo students.

Faculty:
School of Accounting and Finance, Faculty of Arts

Degree:
Bachelor of Accounting and Financial Management (BAFM)

Available as a co-op program?
Co-op only

Available as a regular program?
No

Available as a minor?
No

Pro qualifications. AFM provides a direct route to Chartered Professional Accountant (CPA) and Chartered Financial Analyst (CFA) designations. Complete our Master of Accounting (MAcc) program to get advanced standing for your Chartered Business Valuators (CBV) designation.

Top-level accreditation. Our School of Accounting and Finance has received the highest level of national accreditation through CPA Canada, as well as accreditation through the CFA Institute University Affiliation Program.

Co-op = relevant paid work experience

Waterloo's co-op program, with the largest selection of jobs in North America, is an amazing way to explore potential careers, learn to interview for jobs, graduate with up to two years of valuable experience — and make money!

Co-op work-study sequence

Starting in second year, you'll normally alternate between school and work every four months, integrating your classroom learning with real-world experience. You can return to the same employer for a couple of work terms to gain greater knowledge and responsibility or work for different employers to get a broad range of experience.

Your first work term will be in the winter term of your second year.

Year September to December (Fall) January to April (Winter) May to August (Spring)
First Study Study Off
Second Study Co-op Study
Third Co-op Study Study
Fourth Co-op Study Co-op
Fifth Study - -


Learn more about co-op →

Sample co-op work terms in AFM

Here are three examples of what you might do during a co-op work term.

  1. Financial analyst co-op at a bank or investment firm– Help analyze financial data, update reports and dashboards, support budgeting and forecasting activities, and assist with financial models used to evaluate business performance and investment opportunities.
  2. Audit and assurance co-op at a professional services firm– Support audit teams by reviewing financial information, testing controls, preparing working papers, and assisting with client engagements to help ensure financial reporting accuracy.
  3. Business analyst co-op at a large corporation– Gather and analyze business data, identify process improvement opportunities, create reports for stakeholders, and support projects that help teams make informed business decisions.

What can you do with a degree in Accounting and Financial Management?

If you complete both the AFM and the eight-month Master of Accounting (MAcc) programs, you eliminate the need to take the two-year CPA Professional Education Program. Instead, you can proceed directly to the CPA Final Exam (CFE) as soon as you graduate.

As an Accounting and Financial Management (AFM) graduate, you'll build an impactful career innovating new business models, advancing social and environmental responsibility, and leading organizations to create positive, long-term change.

The careers listed below are examples of what you might be able to pursue. Through the courses you take, specializations you choose, extracurriculars, and any work experience you gain, you'll graduate with a degree that's uniquely you and be ready to pursue a career that's right for you!

Auditor

Ensuring companies are financially accurate and compliant means reviewing records, testing processes and identifying potential risks. You'll help organizations strengthen their financial practices while developing strong analytical and problem-solving skills.

Business Consultant

You'll help organizations solve business challenges, improve operations and identify opportunities for growth and innovation. This role combines analytical thinking, communication and strategic problem-solving.

Entrepreneur

You'll launch and grow your own business, applying skills in accounting, finance, strategy and leadership to turn ideas into successful ventures. AFM graduates often leverage their business knowledge to create startups, consulting firms and innovative businesses.

Financial Accountant

Preparing and analyzing financial statements helps organizations understand their financial performance and make informed decisions. You'll work with financial data to help businesses communicate and manage their financial results.

Financial Planner

You'll help clients build financial plans, manage investments and work toward goals such as home ownership, retirement and wealth creation. Strong communication skills are just as important as financial knowledge in this client-focused role.

Investment Banking Associate

You'll support companies as they raise capital, evaluate investments and pursue mergers and acquisitions. This role combines financial analysis with high-impact business decision-making.

Management Accountant

Using financial information to support planning, budgeting and strategic decision-making helps organizations operate and grow effectively. This role blends accounting expertise with business strategy.

Private Equity Associate

You'll work with investment firms to acquire, improve and grow businesses. By analyzing financial performance and identifying opportunities for improvement, you'll help create long-term value across a variety of industries.

Tax Associate

You'll help individuals and businesses navigate tax laws, prepare filings and identify opportunities for tax efficiency. This role requires strong attention to detail, analytical thinking and problem-solving skills.

Venture Capital Associate

You'll help identify and evaluate promising startups and emerging businesses for investment. By researching industries, assessing business models and meeting with founders, you'll support investment decisions that help innovative companies grow and succeed.

Learn about the future of careers in business.

Admission requirements

Ontario students

Six Grade 12 U and/or M courses including

  • Any Grade 12 U English (minimum final grade of 75% is required)
  • Advanced Functions (minimum final grade of 75% is required)
  • Calculus and Vectors (minimum final grade of 75% is required)

Admission average: Mid-80s

Recommended courses

  • Principles of Financial Accounting
  • Mathematics of Data Management

Not studying in Ontario?

Search our admission requirements.

How to apply

You can apply either to Accounting and Financial Management (AFM) or to Sustainability and Financial Management (SFM), but not both.

Looking for a smaller community for your studies? Co-register at St. Jerome's University, one of Waterloo's on-campus University Colleges. 

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Questions about courses, programs, requirements, or careers?

Please email Samantha Bedard, our Recruitment Coordinator, who can answer any questions you have.

You can also check out the School of Accounting and Finance on Instagram!